France's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

French film-maker Luc Besson in bailout talks with US studio

Share this article

French film-maker Luc Besson in bailout talks with US studio
Luc Besson. Photo: AFP
08:57 CEST+02:00
French film-maker Luc Besson's loss-making studio EuropaCorp said Sunday it was in talks with US investment fund Vine Alternative Investments, one of its creditors, for it to take a major stake to rescue it.

The studio, confirming a report in the Journal du Dimanche newspaper, said in a statement it was speaking with Vine about "a possible equity participation".

It cautioned though that it "cannot give any guarantee that this operation will carry through".

READ ALSO Paris to host free outdoor film screenings (with subtitles in English)


Luc Besson with Cara Delevingne, Dane DeHaan, Rihanna and Herbie Hancock at the premiere of expensive sci-fi thriller Valerian and The City of a Thousand Planets. Photo: AFP 

According to the Journal du Dimanche, Besson - the man behind movies such as Leon: The Professional, The Fifth Element and the action-packed The Transporter and Taken films - preferred to see Vine take control of EuropaCorp rather than French film group Pathe.

Representatives for Pathe and Vine were not contactable on Sunday by AFP.

EuropaCorp, a 20-year-old studio, located in a northern Paris suburb, has run up losses over the past four years, particularly by failing to recoup its big production costs on a lavish 2017 sci-fi movie, Valerian and the City of a Thousand Planets, that was a box-office disappointment.

EuropaCorp in May secured a six-month suspension of its debt repayments as it cast around for a rescuer. Its 2018-2019 financial year saw it rack up €110 million in debt, on top of the 82 million in the previous period.

In 2016, China's Fundamental Films injected €60 million in the studio, becoming its second-largest shareholder.

Besson's latest film, a crime thriller titled Anna that he wrote and directed, opened last month to poor reviews but solid audience scores.

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

VIDEO: Three surprising facts that will make you want to visit Malta

Game of Thrones has ended but it lives on in Malta! Find out how and learn two more unexpected facts about this little archipelago in the middle of the Med.